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Dec 31, 2025
Prothena Q4 2025 Earnings Report
Prothena reported a lower fourth quarter 2025 net loss compared to the prior year period, with significantly reduced operating expenses and minimal collaboration revenue.
Key Takeaways
For Q4 2025, Prothena reported total revenue of 21000 and a net loss of 21589000, or 0.40 per share, compared to a net loss of 57956000 in Q4 2024. Research and development expenses declined to 14586000 and general and administrative expenses decreased to 12646000. Quarter-end cash, cash equivalents and restricted cash totaled 308391000.
Total revenue was 21000, primarily from collaboration revenue.
Net loss was 21589000, improved from 57956000 in the prior year period.
R&D expenses declined to 14586000 from 50172000 year over year.
Quarter-end cash, cash equivalents and restricted cash totaled 308391000.
Revenue by Segment
Forward Guidance
For full year 2026, Prothena expects net cash used in operating and investing activities of 50000000 to 55000000 and to end the year with approximately 255000000 in cash, excluding potential milestone payments.
Positive Outlook
- Expected 2026 net cash use of 50000000 to 55000000.
- Projected year-end 2026 cash balance of approximately 255000000.
- Potential to earn up to 105000000 in aggregate clinical milestone payments in 2026.
- Multiple partnered Phase 3 programs initiated in 2025.
- No debt as of December 31, 2025.
Challenges Ahead
- Expected 2026 net loss of 67000000 to 72000000.
- Ongoing operating losses with limited revenue.
- Dependence on milestone payments and collaborations.
- Clinical development and regulatory risks.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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